The Texas Heritage Parkway project is a 6.2-mile roadway designed to connect FM 1093 with I-10 at an estimated cost of $48 million. Funding for the project is coming from a public/private partnership and is split in a 50/50 share. Once completed, the parkway will provide another north/south corridor between Fulshear and I-10 and will open up those properties located along the parkway for development.
The City has been working on an agreement with the County now for the better part of two years on the financing program for the project. Fulshear’s share of the cost is expected to be $5.8 million, with ongoing maintenance once the roadway is built. We believe the parkway is of significant import and value to the community. The City has and is going to great lengths to develop a plan of finance that will provide it with the means necessary to pay for the project while at the same time ensure a sound financial footing for the City going forward.
The model derived for the development of this road has been ever-shifting since discussions on the project began well over two years ago. The City has a fiduciary responsibility to our residents to ensure that their tax dollars are used wisely; whether its funding public safety, parks or subsidizing a road project to expedite development.
The City greatly appreciates the flexibility and patience exhibited by the County as we move towards a model that achieves everyone’s goal of enhanced mobility and guided growth.